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Conveyancing - Searches
sultanabran
Posts: 172 Forumite
Hi.
Long time lurker, first time poster.
So, I started the process of moving home the other week. My wife and I are separated. Both the kids stay with me so I'm looking to move home to get a fresh start for the kids and I. I spoke to a broker and last week received a decision in principle. This is for a 90% LTV on a new build.
As I like to research everything and understand how things worked, I looked into the conveyancing process and noticed that the solicitor does a bankruptcy search a day or two before completion. Weirdly, if I search my name and address via the AIB website, it returns no results. But if I do just my name, it does list me! (Guess that is by the by).
I haven't been bankrupt/sequestrated but was in a Scottish Trust Deed. This started in 2010 and I was discharged in March 2014. My credit files are all clean with no defaults or any blemishes which is probably why I received the decision in principle as looking at lending criteria, they are quite strict on bankrupts.
I obviously don't want to proceed with selling my home and be buying a new home only for it to go per-shaped two days before!
- What does the bankruptcy search in conveyancing in Scotland throw up? I've read some things which state it's to check if you are currently or have a pending bankruptcy order. I've read other things which state they search back a number of years!
- If it's game over with this lender, are there any lenders I can approach? My only outlays so far are a £500 reservation on the new build.
Thanks for any advice.
Long time lurker, first time poster.
So, I started the process of moving home the other week. My wife and I are separated. Both the kids stay with me so I'm looking to move home to get a fresh start for the kids and I. I spoke to a broker and last week received a decision in principle. This is for a 90% LTV on a new build.
As I like to research everything and understand how things worked, I looked into the conveyancing process and noticed that the solicitor does a bankruptcy search a day or two before completion. Weirdly, if I search my name and address via the AIB website, it returns no results. But if I do just my name, it does list me! (Guess that is by the by).
I haven't been bankrupt/sequestrated but was in a Scottish Trust Deed. This started in 2010 and I was discharged in March 2014. My credit files are all clean with no defaults or any blemishes which is probably why I received the decision in principle as looking at lending criteria, they are quite strict on bankrupts.
I obviously don't want to proceed with selling my home and be buying a new home only for it to go per-shaped two days before!
- What does the bankruptcy search in conveyancing in Scotland throw up? I've read some things which state it's to check if you are currently or have a pending bankruptcy order. I've read other things which state they search back a number of years!
- If it's game over with this lender, are there any lenders I can approach? My only outlays so far are a £500 reservation on the new build.
Thanks for any advice.
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